Storing Your Precious Metals in a Depository Is Easier Than You Think
Options for Delivery Are Numerous and Paperwork Can Be Done Online
The recently volatile precious metals market has seen demand skyrocket as investors have sought opportunities for value investing. If you are considering buying physical metals and wonder if you should take delivery and store them at your home or in a bank safe deposit box, you may want to think again. If you own gold and store it at home, you run the risk of losing your investment due to robbery. There’s a better way to store products suc h as American Gold Eagles and large silver bars as well as other valuable precious metals investments, explains Mike Clark, president of Diamond State Depository (DSD) in New Castle, DE.
For the greatest safety and security, consider placing them in an insured depository, Clark suggests. That may sound complicated and time consuming, but it isn’t. “DSD and International Depository Services of Canada (IDS), the company’s Canadian affiliate near Toronto, are both solid choices if you want more security for your precious metals, without any headaches,” he says.
Clark suggests asking a couple questions to clarify what works best for your situation. First ask yourself, “Is it important that your assets be insured where they are held by an all-risk policy underwritten by a top insurer in the industry, such as Lloyds of London? Next, it is important to consider whether you need ready access in case you decide to sell or transfer your metal investments. “If you answered yes to either of these questions, then DSD and IDS are right for you,” Clark notes.
“Opening a storage account takes very little time, and you maintain complete control over your metals at all times.” You have the option of shipping metals into your account or having your dealer transfer them from their account directly to yours. You also have the option of standard (co-mingled) or segregated storage. With segregated storage, for a slightly higher fee, your metal investments are stored separately from those of other cu stomers, and what is held for you are the exact products you have delivered to the depository for safekeeping.
The depository will contact you when your metal arrives. You’ll be charged a semi-annual storage fee; the amount will depend on the value of your holdings, and the type of storage you choose. “After that, relax, knowing your investment is safe, sound and insured,” Clark states.
He adds that if you decide to transfer or sell your stored metals, DSD and IDS offer a number of options. Metal can be internally transferred to another account at the depository, or mailed out through USPS, Federal Express or UPS. These services all have overnight and two-day delivery. You’ll be billed by the depository for shipping, insurance and handling. Alternatively, if you’d like to pick up your metal, give the depository 24 hours’ notice first, and they will make the transfer directly to you.
DSD and IDS are state-of-the-art, modern facilities, equipped with multi-layered security systems, which are monitored by onsite and offsite security specialists around the clock. Both operate a Class III vault, the highest-rated vault commercially available.
Located in America’s East Coast business corridor just outside Wilmington, DE, Diamond State is one of the world’s most modern precious metals and certified coin depositories. Delaware offers the best tax treatment for metals in a depository of any state in the nation. With internet sales tax legislation looming, it’s ideal to take advantage of the benefits Delaware offers by taking delivery and storing your metals in a safe and secure account at a specialized depository in this state.
Diamond State Depository offers secure custody and fulfillment services for precious metals products, including coins, bars, powder, sponge and industrial material. For more information on Diamond State Depository, please visit DiamondStateDepository.com or phone 888-322-6150. For futher information on its affiliate, International Depository Services of Canada Inc., visit them online at www.IDSofCanada.com or by calling 855-362-2431.